For the Home Estate/PUD market in Montecito Real Estate there have been 139 sales with a median sales price of $3.1 million and last year there were 169 sales to this point in the year with a median sold price of $2.9 million. So far there have been 136 escrows opened this year with a median list price of $3,022,500 and last year there were 163 escrows opened with a median list price of $3.1 million. Through the first 11 months of the year a whopping 352 new listings came on the market with a medina list price of $3.595 million whereas last year 291 homes came on the market with a median list price just under $3 million. Currently there are 176 Home Estate/PUDs available for purchase in Montecito with a median list price of $4.45 million.
Looking at the condo market for Montecito Real Estate there have been 17 sales this year with a median list price of $1,381,500 whereas last year there had been 23 sales with a median sales price of $1.25 million. So far this year only 15 condo escrows have been opened with a median list price of $1.55 million whereas last year there had been 19 escrows open with a median list price of $1.295 million. So far this year there have been 36 new condos listings come on the market in the area with a median list price of $1.595 million and in ’07 there were 42 new listings with a median list price of $1.45 million. Right now there are only 16 condos available with a median list price of $1.899 million.